Exhibit 99.1

SANDRIDGE ENERGY, INC. ANNOUNCES FINANCIAL AND OPERATING RESULTS

FOR THE THREE AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2023, DECLARES $0.10 PER SHARE CASH DIVIDEND, AND PROVIDES CONFERENCE CALL INFORMATION

Recent Highlights

Financial Results & Update

Profitability & Realized Pricing

Operating Costs

Liquidity and Capital Structure

Dividend Program

Operational Results & Update

Production

Development Program

Base Production Declines

Outlook

Environmental, Social, and Governance ("ESG")

Conference Call Information

Contact Information

About SandRidge Energy, Inc.

-Tables to Follow-

Operational and Financial Statistics

Capital Expenditures

Capitalization

SandRidge Energy, Inc. and Subsidiaries

Condensed Consolidated Income Statements (Unaudited)

(In thousands, except per share amounts)

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Revenues
Oil, natural gas and NGL			$	38,149					$	70,899					$	114,715					$	198,146
Total revenues			38,149						70,899						114,715						198,146
Expenses
Lease operating expenses			11,450						9,693						31,946						30,067
Production, ad valorem, and other taxes			2,031						4,768						8,522						13,677
Depreciation and depletion — oil and natural gas			4,217						3,091						11,415						8,318
Depreciation and amortization — other			1,637						1,582						4,870						4,720
General and administrative			2,619						2,382						8,004						7,083
Restructuring expenses			42						76						343						718
Employee termination benefits			—						—						19						—
Gain on derivative contracts			—						(4,258)						(1,447)						(3,194)
Other operating (income) expense			(31)						(25)						(152)						(140)
Total expenses			21,965						17,309						63,520						61,249
Income from operations			16,184						53,590						51,195						136,897
Other income (expense)
Interest income (expense), net			2,455						(12)						7,782						(191)
Other income, net			31						147						88						235
Total other income (expense)			2,486						135						7,870						44
Income before income taxes			18,670						53,725						59,065						136,941
Income tax (benefit) expense			—						—						—						—
Net income			$	18,670					$	53,725					$	59,065					$	136,941
Net income per share
Basic			$	0.51					$	1.46					$	1.60					$	3.73
Diluted			$	0.50					$	1.45					$	1.59					$	3.69
Weighted average number of common shares outstanding
Basic			36,969						36,797						36,906						36,710
Diluted			37,161						37,150						37,123						37,121

SandRidge Energy, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands)

			September 30, 2023						December 31, 2022
ASSETS
Current assets
Cash and cash equivalents			$	230,706					$	255,722
Restricted cash - other			1,537						1,746
Accounts receivable, net			25,657						34,735
Derivative contracts			—						4,429
Prepaid expenses			926						523
Other current assets			1,479						7,747
Total current assets			260,305						304,902
Oil and natural gas properties, using full cost method of accounting
Proved			1,538,863						1,507,690
Unproved			11,189						11,516
Less: accumulated depreciation, depletion and impairment			(1,388,781)						(1,380,574)
			161,271						138,632
Other property, plant and equipment, net			87,824						92,244
Other assets			3,172						190
Deferred tax assets			64,529						64,529
Total assets			$	577,101					$	600,497
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and accrued expenses			$	38,937					$	46,335
Asset retirement obligation			15,574						16,074
Other current liabilities			659						870
Total current liabilities			55,170						63,279
Asset retirement obligation			50,382						47,635
Other long-term obligations			2,032						1,661
Total liabilities			107,584						112,575
Shareholders’ Equity
Common stock, $0.001 par value; 250,000 shares authorized; 37,091 issued and outstanding at September 30, 2023 and 36,868 issued and outstanding at December 31, 2022			37						37
Additional paid-in capital			1,074,219						1,151,689
Accumulated deficit			(604,739)						(663,804)
Total shareholders’ equity			469,517						487,922
Total liabilities and shareholders’ equity			$	577,101					$	600,497

SandRidge Energy, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In thousands)

Non-GAAP Financial Measures

Reconciliation of Net Cash Provided by Operating Activities to Adjusted Operating Cash Flow

Reconciliation of Free Cash Flow

Reconciliation of Net Income to EBITDA and Adjusted EBITDA

Reconciliation of Net Cash Provided by Operating Activities to Adjusted EBITDA

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
			(In thousands)
Net cash provided by operating activities			$	25,507					$	55,474					$	89,359					$	134,630
Changes in operating assets and liabilities			(466)						(700)						(8,040)						12,534
Interest expense			21						19						75						199
Employee termination benefits			—						—						19						—
Interest income			(2,476)						(6)						(7,857)						(8)
Other			1						37						225						603
Adjusted EBITDA			$	22,587					$	54,824					$	73,781					$	147,958

Reconciliation of Net Income Available to Common Stockholders to Adjusted Net Income Available to Common Stockholders

Reconciliation of General and Administrative to Adjusted G&A

Cautionary Note to Investors - This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are neither historical facts nor assurances of future performance and reflect SandRidge’s current beliefs and expectations regarding future events and operating performance. The forward-looking statements include projections and estimates of the Company’s corporate strategies, future operations, development plans and appraisal programs, drilling inventory and locations, estimated oil, natural gas and natural gas liquids production, price realizations and differentials, hedging program, projected operating, general and administrative and other costs, projected capital expenditures, tax rates, efficiency and cost reduction initiative outcomes, liquidity and capital structure and the Company’s unaudited proved developed PV-10 reserve value of its Mid-Continent assets. We have based these forward-looking statements on our current expectations and assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate under the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks and uncertainties, including the volatility of oil and natural gas prices, our success in discovering, estimating, developing and replacing oil and natural gas reserves, actual decline curves and the actual effect of adding compression to natural gas wells, the availability and terms of capital, the ability of counterparties to transactions with us to meet their obligations, our timely execution of hedge transactions, credit conditions of global capital markets, changes in economic conditions, the amount and timing of future development costs, the availability and demand for alternative energy sources, regulatory changes, including those related to carbon dioxide and greenhouse gas emissions, and other factors, many of which are beyond our control. We refer you to the discussion of risk factors in Part I, Item 1A - “Risk Factors” of our Annual Report on Form 10-K and in comparable “Risk Factor” sections of our Quarterly Reports on Form 10-Q filed after such form 10-K. All of the forward-looking statements made in this press release are qualified by these cautionary statements. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on our Company or our business or operations. Such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. We undertake no obligation to update or revise any forward-looking statements.

SandRidge Energy, Inc. (NYSE: SD) is an independent oil and gas company engaged in the development and acquisition of oil and gas properties. Its primary area of operations is the Mid-Continent region in Oklahoma and Kansas. Further information can be found at www.sandridgeenergy.com.